Russell Investments Group Ltd. Sells 434,109 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Russell Investments Group Ltd. lessened its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 75.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,916 shares of the company's stock after selling 434,109 shares during the period. Russell Investments Group Ltd. owned 0.05% of Leonardo DRS worth $2,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DRS. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Leonardo DRS by 506.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 68,088 shares of the company's stock worth $1,364,000 after purchasing an additional 56,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Leonardo DRS by 25.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,606 shares of the company's stock worth $313,000 after purchasing an additional 3,152 shares in the last quarter. Barclays PLC boosted its holdings in shares of Leonardo DRS by 75.4% in the 3rd quarter. Barclays PLC now owns 34,123 shares of the company's stock worth $571,000 after purchasing an additional 14,664 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Leonardo DRS in the 3rd quarter worth about $550,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Leonardo DRS by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,415 shares of the company's stock worth $9,342,000 after purchasing an additional 58,353 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Up 0.6 %

NASDAQ:DRS traded up $0.13 during midday trading on Tuesday, reaching $22.97. 364,915 shares of the stock traded hands, compared to its average volume of 632,276. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.59 and a current ratio of 1.96. Leonardo DRS, Inc. has a 12-month low of $14.12 and a 12-month high of $24.00. The stock has a market capitalization of $6.04 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 3.29 and a beta of 0.79. The business has a 50-day moving average of $21.73 and a two-hundred day moving average of $20.37.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $645.56 million. Leonardo DRS had a net margin of 6.28% and a return on equity of 9.35%. Leonardo DRS's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. On average, equities analysts forecast that Leonardo DRS, Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DRS. JPMorgan Chase & Co. dropped their price objective on Leonardo DRS from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Friday, March 15th. Bank of America lifted their target price on Leonardo DRS from $22.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, March 15th. Finally, Truist Financial lifted their target price on Leonardo DRS from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th.

Leonardo DRS Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.